Type
|
Public |
---|---|
Traded as | NYSE: PSTG |
Industry | Data storage |
Founded | 2009 |
Headquarters | Mountain View, California |
Key people
|
CEO: Charles Giancarlo Co-founder: John Colgrove Co-founder: John Hayes CFO: Tim Riitters |
Website | www |
Pure Storage is a Mountain View, California-based enterprise data flash storage company founded in 2009.
In October 2009, the company was founded as OS76 by John Colgrove and John Hayes. Mike Speiser of Sutter Hill Ventures was an early board member. It raised a $5 million series A round led by Sutter Hill. In August 2010, it raised another $20 million, led by Greylock Partners with participation by Sutter Hill. Scott Dietzen, former president and CTO of Zimbra (acquired by VMware in January 2010), and former CTO of BEA Systems, became chief executive in October 2010. In August 2011, the company announced an investment from the venture-capital arm of Samsung Electronics, which along with Redpoint Ventures contributed to a $30 million series C funding round. Vice president of engineering Bob Wood joined at that time from Omneon (acquired by Harmonic, Inc.).
In August 2012, Pure Storage raised $40 million in series D funding round led by Index Ventures partner Mike Volpi, along with existing investors. An investment of undisclosed amount from In-Q-Tel (associated with the US Central Intelligence Agency) was announced in May 2013. Another investment (round "E") of $150 million was announced in August 2013, including T. Rowe Price and Tiger Global Management.
In October 2013, EMC Corporation filed lawsuits against several former sales employees who left to join Pure Storage. A $225 million series F funding round closed in April 2014. Tim Riitters, a former Google exec, joined as chief financial officer (CFO) in August 2014.
On October 6, 2015, Pure Storage priced their initial public offering at $17 per share, raising about $400 million. It started trading on the New York Stock Exchange with the symbol PSTG.
In 2016, the company was ranked #14 on the Deloitte Fast 500 North America list.
On August 24, 2017, it was announced that Charles Giancarlo would replace Scott Dietzen as CEO with Dietzen taking on the role of Chairman of the company.
Pure Storage released a flash memory product called FlashArray on August 23, 2011. Deployed in a data center, FlashArray is marketed to accelerate applications like server virtualization, desktop virtualization, database systems and cloud computing that required very high rates of random I/O operations per second. InfiniBand technology connected controllers, and Fibre Channel connected to server computers.
The second generation FlashArray, released on May 16, 2012, included new software and an enhanced data integrity fabric. It was promoted with higher resiliency, encryption with zero key management, a new web user interface, command line interface, and support for VMware's vStorage interface. In August 2012, the firm released new software features including iSCSI connectivity using 10 Gigabit Ethernet, snapshots, and integration with VMware vCenter.
Pure Storage used multi-level cell flash memory which has higher capacity, for the same price, than single-level cell memory, at the cost of increased wear on and reduced life expectancy of the cells. Using software such as data compression known as data deduplication, the firm markets the FlashArray to compete with traditional rotating disk arrays. The company estimated FlashArray required about 20% of the power and space required for traditional arrays. The firm's flash memory is packaged in shelves of solid state memory devices (SSDs), from two known suppliers, sTec, Inc. and Samsung.
FlashBlade is Pure's second all-flash offering designed for high-performance workloads.
In 2016, the company was ranked #14 on the Deloitte Fast 500 North America list. In 2015, Pure Storage was awarded the best place to work by the San Francisco Business Times, in the large companies category. Pure Storage was named as silver winner in the Wall Street Journal 2012 Technology Innovation Awards. Pure Storage and Samsung won one of two awards for enterprise business applications at an August 2012 flash memory trade show. Pure Storage was selected for the Red Herring Top 100 Americas Award in 2012. Pure Storage was named one of 10 "hot emerging companies" by CRN Magazine in May 2012. Pure Storage was among the top 25 best places to work in Silicon Valley, of companies with 51-101 employees by the San Francisco Business Times. Pure Storage announced it was a silver winner of the Enterprise Product of the Year in Best in Biz Awards 2011.
2016-06-29 | Initiated Coverage | Macquarie | Outperform | $15.00 |
2016-06-28 | Initiated Coverage | Robert W. Baird | Neutral | $12.00 |
2016-06-27 | Reiterated Rating | BTIG Research | Buy | $17.00 |
2016-06-23 | Reiterated Rating | Summit Research | Hold | $10.00 |
2016-05-27 | Reiterated Rating | Susquehanna | $10.00 | |
2016-05-27 | Reiterated Rating | Stifel Nicolaus | Buy | $24.00 to $20.00 |
2016-05-26 | Reiterated Rating | Morgan Stanley | Overweight | $25.00 to $23.00 |
2016-05-26 | Reiterated Rating | Needham & Company LLC | Buy | $18.00 |
2016-05-26 | Boost Price Target | Bank of America | Buy | $18.00 to $22.00 |
2016-05-26 | Lower Price Target | Maxim Group | Buy | $27.00 to $20.00 |
2016-05-26 | Downgrade | BMO Capital Markets | Outperform to Market Perform | $13.00 |
2016-05-26 | Reiterated Rating | Oppenheimer | Hold | |
2016-05-26 | Reiterated Rating | Raymond James | Buy | $21.00 to $20.00 |
2016-05-26 | Downgrade | Deutsche Bank | Outperform to Market Perform | $13.00 |
2016-05-26 | Reiterated Rating | Oppenheimer Holdings Inc. | Hold | |
2016-05-26 | Reiterated Rating | Raymond James Financial Inc. | Buy | $21.00 to $20.00 |
2016-05-26 | Downgrade | Deutsche Bank AG | Outperform to Market Perform | $13.00 |
2016-05-26 | Boost Price Target | Bank of America Corp. | Buy | $18.00 to $22.00 |
2016-05-25 | Reiterated Rating | William Blair | Outperform | |
2016-04-27 | Initiated Coverage | Needham & Company LLC | Buy | $18.00 |
2016-04-26 | Initiated Coverage | BTIG Research | Buy | $17.00 |
2016-04-12 | Reiterated Rating | William Blair | Outperform | |
2016-04-11 | Reiterated Rating | Stifel Nicolaus | Buy | $24.00 |
2016-03-24 | Initiated Coverage | William Blair | Outperform | |
2016-03-15 | Reiterated Rating | Susquehanna | Sell | |
2016-03-03 | Reiterated Rating | BMO Capital Markets | Outperform | $25.00 |
2016-03-03 | Reiterated Rating | Lake Street Capital | Buy | $20.00 to $21.00 |
2016-03-03 | Boost Price Target | Maxim Group | Buy | $22.00 to $27.00 |
2016-03-03 | Boost Price Target | Barclays | Equal Weight | $17.00 to $19.00 |
2016-03-03 | Upgrade | JMP Securities | Buy | |
2016-03-03 | Reiterated Rating | Raymond James | Positive | $23.00 to $21.00 |
2016-03-03 | Boost Price Target | Goldman Sachs | Neutral | $17.00 to $18.00 |
2016-03-03 | Boost Price Target | Goldman Sachs Group Inc. | Neutral | $17.00 to $18.00 |
2016-03-03 | Boost Price Target | Barclays PLC | Equal Weight | $17.00 to $19.00 |
2016-02-03 | Initiated Coverage | Oppenheimer | Market Perform | |
2016-01-28 | Initiated Coverage | Maxim Group | Buy | $22.00 |
2016-01-20 | Lower Price Target | Barclays | Equal Weight | $21.00 to $17.00 |
2016-01-19 | Initiated Coverage | Lake Street Capital | Buy | $20.00 |
2015-12-29 | Initiated Coverage | Summit Research | Hold | $15.00 |
2015-12-16 | Initiated Coverage | JMP Securities | Outperform | $24.00 |
2015-12-11 | Reiterated Rating | BMO Capital Markets | Outperform | $25.00 |
2015-12-10 | Initiated Coverage | BMO Capital Markets | Outperform | $25.00 |
2015-12-08 | Initiated Coverage | Susquehanna | Neutral | $13.00 to $10.00 |
2015-11-11 | Initiated Coverage | Sterne Agee CRT | Neutral | $20.00 |
2015-11-06 | Lower Price Target | Jefferies Group | Hold | $20.00 to $18.00 |
2015-11-03 | Reiterated Rating | Raymond James | Buy | $23.00 |
2015-11-02 | Initiated Coverage | KeyBanc | Overweight | $24.00 |
2015-11-02 | Initiated Coverage | Bank of America | Buy | |
2015-11-02 | Initiated Coverage | Raymond James | Outperform | |
2015-11-02 | Initiated Coverage | Evercore ISI | Buy | $21.00 |
2015-11-02 | Initiated Coverage | Pacific Crest | Overweight | $24.00 |
2015-11-02 | Initiated Coverage | Goldman Sachs | Neutral | $19.00 |
2015-11-02 | Initiated Coverage | Barclays | Buy to Equal Weight | $24.00 to $21.00 |
2015-11-02 | Initiated Coverage | Stifel Nicolaus | Buy | $24.00 |
2015-11-02 | Initiated Coverage | KeyCorp | Overweight | $24.00 |
2015-10-20 | Initiated Coverage | Jefferies Group | Hold | $20.00 |
2015-10-08 | Initiated Coverage | FBN Securities | Outperform | $23.00 |
1970-01-01 |
2016-06-29 | Initiated Coverage | Macquarie | Outperform | $15.00 |
2016-06-28 | Initiated Coverage | Robert W. Baird | Neutral | $12.00 |
2016-06-27 | Reiterated Rating | BTIG Research | Buy | $17.00 |
2016-06-23 | Reiterated Rating | Summit Research | Hold | $10.00 |
2016-05-27 | Reiterated Rating | Susquehanna | $10.00 |
There is presents forecasts of rating agencies and recommendations for investors about this ticker
In PSTG 261 funds of 2213 total. Show all
Fund name | Ticker shares |
---|---|
FMR LLC | 37.24M |
Vanguard Group, Inc | 27.50M |
BlackRock Inc. | 15.29M |
Champlain Investment Partners, LLC | 14.28M |
PRICE T ROWE ASSOCIATES INC /MD/ | 12.56M |
CITADEL ADVISORS LLC | 6.37M |
Whale Rock Capital Management LLC | 5.85M |
FIRST TRUST ADVISORS LP | 5.23M |
DISCIPLINED GROWTH INVESTORS INC /MN | 5.12M |
BNP Paribas Investment Partners S.A. | 4.85M |
MORGAN STANLEY | 4.69M |
BLACKROCK ADVISORS LLC | 4.61M |
STATE STREET CORP | 4.37M |
TWO SIGMA ADVISERS, LLC | 4.36M |
LOOMIS SAYLES & CO L P | 3.60M |